Business
Orion Energy Systems Announces CEO Transition Plan - Mike Altschaefl to Retire as CEO on November 10, 2022; EVP and COO Mike Jenkins Named as New CEO
MANITOWOC, Wis., Aug. 03, 2022 (GLOBE NEWSWIRE) -- Orion Energy Systems, Inc. (Nasdaq: OESX) (Orion Lighting), a provider of energy-efficient LED lighting and
About this update from Orion Energy Systems, Inc.
[{"type":"text","content":"MANITOWOC, Wis., Aug. 03, 2022 (GLOBE NEWSWIRE) -- Orion Energy Systems, Inc. (Nasdaq: OESX) (Orion Lighting), a provider of energy-efficient LED lighting and control systems, including turnkey project implementation, program management and system maintenance, today announced that Michael H. Jenkins, the Company’s Executive Vice President and Chief Operating Officer, will assume the role of Chief Executive Officer following the retirement of Mike Altschaefl, Orion’s Board Chair and CEO, effective November 10, 2022. Mr. Jenkins will also join Orion’s Board, effective November 10th, to serve an initial term through the Company’s 2023 annual meeting. Mike Jenkins is an accomplished executive leader with a strong track record of business and financial achievement built over more than 25 years. He joined Orion last year as part of a long-term strategic leadership and planning process and was selected to serve as CEO based on his significant leadership, operational, and sales and marketing skills and contributions. Mr. Altschaefl will continue to serve on Orion’s Board of Directors following his retirement through the Company’s 2023 annual meeting of shareholders and, thereafter, may provide consulting services to the Company until December 31, 2023. Orion’s lead independent director, Anthony L. Otten, will assume the role of Orion’s independent Board Chair immediately following the Company’s 2022 annual shareholders meeting, tomorrow August 4th. Mr. Otten has served on Orion’s Board since August 2015 and as lead independent director since June 2017. His experience as a public company CEO and business leader, combined with his capital markets experience, merger and acquisition experience, and contributions to Orion’s Board make him well qualified to serve as Board Chair. Mr. Otten, Orion’s new Board Chair, commented, “We have been working hard to build Orion’s management team and strategic vision to support the Company’s long-term growth and profitability. Orion has a very exciting future, offering substantial growth potential that is rooted in our ‘customer for life’ vision to provide a growing base of related products and services with exceptional quality and service. Mike Jenkins has demonstrated passion and impressive management, strategy and sales skills that should allow him to lead the advancement of our business, including our...